Westpac to have its day in court on BBSW

Westpac is not backing down from its trial with the corporate regulator over allegations of inter-bank rate rigging, despite ANZ and National Australia Bank's decision to settle their cases.

Counsel for all three banks and the Australian Securities and Investments Commission returned to the Federal Court on Monday to discuss their next steps after NAB settled its case for $50 million on Friday.

ANZ was the first bank to settle with ASIC on October 23 on what was supposed to be the first day of a trial lasting up to five months.

"I congratulate the parties in each of the ANZ and NAB proceedings for the hard work in getting to this stage," Justice Jonathan Beach said on Monday.

Counsel for ASIC's case against Westpac, Philip Crutchfield QC, says he believes the trial will finish before the end of the year.

"We are endeavouring to finish this trial well in advance of Christmas," he told the court.

Justice Beach is considering referring the ANZ and NAB cases to another judge for finalisation, while he presides over the Westpac trial.